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Corona Virus Hits U.S. Nat Gas Markets

February 10, 2020

Suppliers of U.S. LNG exports may face shut-ins as the knock-on effect of the coronavirus in China hits the North American natural gas market. The virus has led to lower industrial production and ultimately less demand for natural gas across China, providing further downward pressure on prices.

Four vessels headed to China have been diverted and the nation’s largest LNG buyer has invoked force majeure and told suppliers it will no longer take delivery of cargoes.

IHS Markit predicts that the virus could reduce China’s LNG demand growth by 38%.

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